IMAX’s (IMAX) Buy Rating Reiterated at Benchmark

Benchmark reiterated their buy rating on shares of IMAX (NYSE:IMAX) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $22.00 price target on the stock.

Several other equities analysts have also recently issued reports on the stock. Rosenblatt Securities lowered their target price on shares of IMAX from $30.00 to $25.00 and set a buy rating on the stock in a research note on Tuesday, February 13th. Wedbush restated an outperform rating and set a $22.00 target price on shares of IMAX in a research note on Wednesday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of IMAX from $20.00 to $17.00 and set a neutral rating on the stock in a research note on Tuesday, February 6th. The Goldman Sachs Group lowered their target price on shares of IMAX from $15.00 to $13.00 and set a sell rating on the stock in a research note on Thursday, January 11th. Finally, Barrington Research restated an outperform rating and set a $24.00 target price on shares of IMAX in a research note on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $20.57.

IMAX Stock Performance

Shares of IMAX stock opened at $16.88 on Tuesday. IMAX has a one year low of $13.20 and a one year high of $21.82. The company’s 50-day moving average is $15.93 and its 200 day moving average is $16.15. The company has a market capitalization of $893.55 million, a price-to-earnings ratio of 36.68, a price-to-earnings-growth ratio of 1.43 and a beta of 1.25.

IMAX (NYSE:IMAX) last announced its quarterly earnings data on Tuesday, February 27th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.05 by $0.12. IMAX had a net margin of 6.76% and a return on equity of 9.59%. The company had revenue of $86.02 million for the quarter, compared to the consensus estimate of $85.83 million. During the same period in the prior year, the firm posted $0.05 EPS. IMAX’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, research analysts predict that IMAX will post 0.58 earnings per share for the current fiscal year.

Insider Transactions at IMAX

In other news, VP Robert D. Lister sold 25,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the vice president now owns 138,889 shares in the company, valued at approximately $2,343,057.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 24.33% of the company’s stock.

Institutional Investors Weigh In On IMAX

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Capital Management LLC raised its stake in IMAX by 54.3% during the 4th quarter. Private Capital Management LLC now owns 1,185,715 shares of the company’s stock worth $17,809,000 after acquiring an additional 417,169 shares during the period. Partnership Wealth Management LLC raised its stake in IMAX by 63.1% during the 1st quarter. Partnership Wealth Management LLC now owns 12,932 shares of the company’s stock worth $209,000 after acquiring an additional 5,005 shares during the period. Quadrature Capital Ltd raised its stake in IMAX by 9.9% during the 4th quarter. Quadrature Capital Ltd now owns 60,867 shares of the company’s stock worth $914,000 after acquiring an additional 5,470 shares during the period. PNC Financial Services Group Inc. bought a new stake in IMAX during the 4th quarter worth approximately $33,000. Finally, Price T Rowe Associates Inc. MD raised its stake in IMAX by 8.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,929 shares of the company’s stock worth $165,000 after acquiring an additional 806 shares during the period. Institutional investors own 93.51% of the company’s stock.

About IMAX

IMAX Corporation, together with its subsidiaries, operates as a technology platform for entertainment and events worldwide. The company operates in two segments, Content Solutions and Technology Products and Services. The company offers IMAX DMR, a proprietary technology that digitally remasters films and other content into IMAX formats for distribution to the IMAX network; IMAX Enhanced that provides end-to-end technology across streaming content and entertainment devices at home; and SSIMWAVE, an AI-driven video quality solutions for media and entertainment companies.